PNB Housing Finance inaugurates sixth branch in Bengaluru

Bengaluru, June 8, 2017: PNB Housing Finance, the 29-year-old public sector finance company, today inaugurated a new branch at Vijayanagar in southwest Bengaluru as part of its expansion in Karnataka.

With this, the Company will have six branches in Bengaluru and a total of 17 branches in South India. The move is in line with the company’s plans to establish its footprint in high-potential regions and gain a bigger market share in South India.

The branch, located at 1125/12, Ground Floor, Service Road, Hampi Nagar, Vijayanagar, Bengaluru, was opened in the presence of Mr. M. Krishnappa, Housing Minister of Karnataka, and Vinod Reddy, DGM – South Zone, PNB Housing Finance.

PNB Housing Finance Business Head and General Manager Shaji Varghese said, “Karnataka has seen resurgent growth in almost all sectors, including real estate and housing. The region has witnessed a rapid influx of people, which has resulted in high property demand and propelled investment in both public and private sector. We plan to capitalise on this robust scenario by opening new branches in potentially-lucrative areas like Vijayanagar, an upcoming IT hub driving the city’s employment index. We want to ensure highest levels of customer service competency and become one of the most admired housing finance companies in the country.”

PNB Housing Finance has a total of 63 branches across 39 towns and cities. In FY2016-17, the Company sanctioned loans worth INR 23704 crores while the total retail disbursement was INR 15766 crores. In the current fiscal, the Company plans to open a total of 23 new branches across India, with a majority of these located in western and southern regions.